Ralph Vince's Letter

Ralph Vince's Letter

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Ralph Vince's Letter
Ralph Vince's Letter
Inflation and a Market Falling Apart

Inflation and a Market Falling Apart

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Ralph Vince
Feb 12, 2022
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Ralph Vince's Letter
Ralph Vince's Letter
Inflation and a Market Falling Apart
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First on that CPI print Thursday. Inflation appears to be nowhere near going away any time soon. Here is the S&P (black), full CPI (blue), and the NY Fed’s Underlying Inflation Gauge, UIG (red):

The UIG expresses the main direction of inflation, and as the chart shows, UIG hasn’t even begun to round over.

The narrative is that inflation is caused by a “su…

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